Today,Congressman Wiley Nickel (NC-13) and Congressman John Joyce (PA-13) introduced the bipartisan Maintaining Investments in New Innovation (MINI) Act. This bipartisan legislation would promote and support medical innovation in the United States.
The MINI Act represents a crucial step forward in the ongoing efforts to promote and safeguard cutting-edge and complex biotechnological advancements. Specifically, the MINI Act introduces changes to title XI of the Social Security Act, centering on ensuring continued innovation and access to genetically targeted technologies.
The MINI Act would allow for the narrow list of products that meet the FDA-defined definition of a genetically targeted technologies to be eligible for Medicare Drug Price Negotiation Program after 11 years on the market. These highly innovative drugs, the technology of which was awarded a Nobel Prize based on its groundbreaking nature, harness genetically targeted technology, offering them the capability to interact directly with our genes in novel ways to address disease. This might include altering, enhancing, or suppressing the function of a particular gene. The MINI Act is intended to ensure that sufficient incentives remain in the biotech ecosystem to support the research and development necessary to advance these new technologies into areas of medical need, including central nervous system-based diseases like Alzheimer’s.
"Our constituents deserve the best of both worlds – access to the latest medical treatments and the assurance that innovation remains uninhibited,” said Congressman Wiley Nickel. “The MINI Act underscores a broader vision – a future where medical innovation thrives, and the benefits of such innovation are accessible to all, not just a privileged few.”
